THE BUYING PROCESS

How to buy a home

WHAT IS A GOOD PRICE RANGE

First and foremost, you will want to meet with a Lender. A lender is an employee of a bank or lending company. The lender will furnish you an estimated mortgage price range you qualify for in the form of a pre-approval letter. In addition to the pre-approval letter, you will receive an estimate of total closing costs. While this step may sound scary for some, it is best to know prior to going house hunting to prevent losing your ideal home to a pre-approved buyer. Next, you will want to contact a Real Estate agent to schedule a consultation to begin the formalities and paperwork associated with buying Real Estate.

FULL CONSULTATION

During the consultation, our agents will go over how the Real Estate team works together to provide you a seamless home buying experience. As well as, the Real Estate Agency Disclosure form, a form to inform buyers about how Realtors can exclusively represent buyers, sellers, or both parties in the same transaction. Once you feel you understand you will be asked to sign that you understand the information presented to you. Note, this is NOT a contract and our agents will certainly answer any questions you might have prior to signing. After which you may discuss what type of homes you would like to see, your price range, and what motivated you to get a new home.

FINDING THE RIGHT HOME

Now that you've discussed the type of home, price, and motivations with your agent we will set up a personalized home search for you and e-mail you a list of properties that fit your criteria. In addition, at your request we will set up our exclusive Home Spotter app that allows you to search for homes on the market and message them to our agents to schedule a showing.

HOME SHOWINGS

We go over and ask our clients to sign the Exclusive Right to Sell contract prior to a showing in order to provide you the highest level of fiduciary duties.

WRITING AN OFFER ON YOUR DREAM HOME

Once you have found your dream home, your agent will sit down with you and write an offer. It is important to know that homes typically have multiple offers, and having a pre-approval letter from your lender is essential in preventing the loss of your ideal home to a pre-approved buyer. Rest assured that our Agents will guide you through the thought process of writing an irresistible offer.

HAVING A HOME INSPECTION

Once your offer has been accepted your agent will recommend you have a home inspection. As the buyer you may choose a home inspector. If you do not know of a home inspector we would be glad to provide you with a list of local home inspectors. You will have 10 days to have an inspection and negotiate any repairs after the acceptance of your offer. After the Inspection your inspector will give your agent and you a copy of their report and estimate for any repairs.

NEGOTIATING

Once the estimated repairs are received, our agents will negotiate with the seller's agent regarding any repairs in attempt to reduce your closing costs. However, if the seller's are not willing to agree to make the repairs you desire within the 10 day inspection period and you may cancel the offer.

ARRANGING FOR FINANCING

Now that the inspection period has passed and both parties have reached an agreement, you will need to return to your lender and apply for a loan on your new home. Within 3 business days after applying for the loan you will receive a Loan Estimate containing the estimated principal and interest payment, taxes, insurance, itemized closing costs, any prepaid items, and escrow (property tax) reserves.

HAVING YOUR FUTURE HOME APPRAISED

Your lender will arrange for an appraiser to evaluate the price of your future home. An appraiser is there to make sure that the house's listing price is close to the market value of the house.

CLOSING

Congratulations on your closing! At this point one of our closers would step in and go over the final touches needed prior to transferring the title of your new home to you.